Private International Banks, the Debt Crisis and the Apartheid State, 1982-1985

bibliographic database
Line

Periodical article

Title:	Private International Banks, the Debt Crisis and the Apartheid State, 1982-1985
Author:	Padayachee, Vishnu
Year:	1988
Periodical:	African Affairs: The Journal of the Royal African Society
Volume:	87
Issue:	348
Period:	July
Pages:	361-376
Language:	English
Geographic term:	South Africa
Subjects:	foreign investments trade boycotts Economics and Trade Politics and Government international relations
External link:	https://www.jstor.org/stable/722438
Abstract:	This article examines some aspects of the nature of loans and bonds raised, arranged, managed or underwritten by private international banks on the international financial market on behalf of South African borrowers, as well as the changes in the nature and structure of such international credit, with a view to explaining the recent crisis in South Africa's international financial relations, a crisis precipitated by Chase Manhattan Bank's decision in August 1985 to call in its outstanding South African credit and to deny the country its normal roll-over credit facilities. Although the analysis is situated within the context of international and domestic (South African) developments after 1973 (OPEC I), the article concentrates on the years immediately preceding the dramatic events of August/September 1985. This analysis furthermore concentrates almost exclusively on foreign capital inflows of the loan variety, i.e. interest yielding capital inflows. Ref.